The retail landscape is rapidly evolving. New technology, new sales channels, consumers with different demands, changing shopping habits and cautious confidence levels present challenges and opportunities. Retailers ready to innovate and adapt to new ways of attracting customers will do well but keeping pace needs specialist support. BDO is experienced in serving the retail industry and helping clients respond to change and identify opportunities for growth.
Retail business provides many exciting opportunities with great scope for innovation. It also requires efficient systems and structure around financial reporting, tax and corporate modelling. At BDO, we provide practical financial advice on everything from tax planning and mergers, to auditing and risk advisory. We also offer services that go beyond traditional accounting, including access to data that will show you exactly what’s going on in your business – and the wider industry.
We work alongside a broad range of well-known Australian and international retail clients, from successful family owned and managed businesses to larger private businesses, franchises, ASX-listed companies and international corporations. Our clients are in all growth phases and from diverse sectors, including fashion, technology and fast moving consumer goods.
Talk to us about how we can help you. Our team can assist with:
Our connections and experience see us working closely with retailers, banks, private equity houses, brokers, lawyers and property professionals who specialise in the retail sector. We can help combine these resources to help your business succeed.
Our detailed knowledge of the retail industry and partner-led approach can help you achieve the best commercial outcomes for your retail business. Our advisory teams have specialists to help in the following areas:
Read more about BDO’s advisory services.
Our audit professionals can help you improve systems and processes for external financial reporting. We also help you keep up-to-date with changing regulatory requirements such as International Financial Reporting Standards. Using our proven international audit methodology, we focus on key financial areas and provide constructive ideas for improving your organisations’ internal controls and business systems. Retail business audit services may include:
Read more about BDO’s audit services.
Our business advisers work with you to ensure your business succeeds by driving growth, value and profitability. Supporting entrepreneurs, private clients and owner-managed businesses of all sizes, our people have deep industry knowledge and extensive experience in delivering:
Read more about BDO’s business services.
BDO is committed to helping retailers increase revenue and profit through improved store conversion. We use an innovative system called Reveal to measure your existing sales opportunities, and success in converting those opportunities into sales. Reveal’s hardware/software solution integrates with your point-of-sale system to provide accurate store visit-to-conversion rates and customer-to-staff ratios. The real-time dashboard provides store managers and support office teams with a clear overview and intuitive insights to help make decisions and implement changes to enhance performance and improve profits. We work with retail teams to use Reveal data to:
Read more about our data analytics services.
Retail businesses can incur significant compliance costs attempting to work out which taxes apply to their business transactions. There are also the administrative costs associated with paying, collecting and claiming credits, and remitting GST on sales and purchases, which can be substantial. As a retail business, it’s vital to maximise your tax opportunities and ensure compliance in a complex environment. From corporate and international tax to franchise services, our tax specialists can help with:
Read more about BDO’s tax services.
The franchising industry faces a unique set of challenges, including economic volatility, heightened international competition, and legislative challenges. In today’s crowded and competitive environment, success depends on swift management decisions, solid relationships between franchisees and franchisors, and the anticipation of future trends. Our franchising professionals work with emerging franchisors, multi-unit franchisees, private equity firms, and publicly traded entities. We provide services across a wide range of areas for franchisors and franchisees: